With a population of over 650 million and a combined GDP of US$3.6 trillion, Southeast Asia is on track to becoming the world’s fourth-largest economy by 2030. This rapid growth trajectory presents immense opportunities, while raising pertinent questions about how businesses, governments and individuals could adapt to a rapidly evolving landscape. Singapore, as a global hub for trade, innovation and investment plays a key role in shaping the region’s future, and is well-placed to drive the exchange of knowledge, capital and technology across ASEAN.
Within this context, the Straits Times Education Forum, held in partnership with Singapore Management University, convened leading experts for an insightful discussion on the opportunities to be harnessed, as well as how the next generation of talent might seize the opportunities ahead. In its tenth edition and themed "Southeast Asia and Our Shared Future", the Forum took place at SMU Hall, Yong Pung How School of Law on Tuesday, 11 March 2025.
Close to 600 participants attended the event, comprising industry professionals, government representatives, educators, ST readers, members of the SMU community as well as diplomatic ambassadors and SMU overseas partner university representatives. It was the highest turnout in the history of the annual Forum.
Coinciding with SMU’s 25th anniversary, the Forum spotlighted key insights for graduates, professionals and businesses looking to navigate and succeed in the rapidly growing Southeast Asian region. Members of the audience gained valuable insights from Guest-of-Honour Mr Heng Swee Keat, Deputy Prime Minister of Singapore, as well as a distinguished panel of speakers comprising Piyush Gupta, DBS CEO and SMU Chairman; Aldi Haryopratomo, Investor and Entrepreneur; as well as Aaron Tan, CEO and Co-Founder of Carro.
Moderated by SMU Provost-Designate, Professor Alan Chan, the discussion examined how universities, industries, and governments might collaborate to equip professionals with the skills needed to thrive in Southeast Asia’s evolving economy. Panellists also explored challenges for start-ups navigating the region’s dynamic yet fragmented markets, as well as emerging job opportunities driven by Southeast Asia’s rapid growth.
Commenting on the need for graduates to develop both knowledge and soft skills to thrive in a multifaceted operating environment, SMU President, Prof Lily Kong, said: “Southeast Asia is a region of immense dynamism, presenting both extraordinary opportunities and complex challenges. To excel in such a vibrant environment, graduates – whether they choose to become professionals or entrepreneurs - need more than technical proficiency. They require cultural intelligence, resilience, adaptability and a spirit of innovation. Universities thus play a critical role in cultivating talent with these qualities. As SMU marks 25 years of educational transformation, we will focus our minds on strengthening these qualities, and in so doing, nurturing lifelong learners and change agents. We will reaffirm our commitment to preparing students not just for the workplace, but to lead and make a lasting impact in an ever-evolving and increasingly complex world.”
The full story published in The Straits Times (12 March 2025) is enclosed below:
S-E Asia’s future lies in developing its people and talent: Panellists at ST education forum
SINGAPORE – While Singapore continues to prioritise the development of its people, it should also “have the best people” on its side to conquer challenges such as deglobalisation, said Deputy Prime Minister Heng Swee Keat on March 11.
Describing Singapore as a multiracial, multicultural and multi-religious nation, DPM Heng said the Republic is well positioned in South-east Asia to be a “powerful bridge” and “powerful connector” to the rest of the world.
But this also requires a focus on talent attraction and development, he added.
“If we can learn from the best from around the world, let us be very open to getting the best to Singapore,” he said at The Straits Times Education Forum 2025.
Held in partnership with Singapore Management University (SMU), the forum focused on South-east Asia’s shared future, with panellists discussing the importance of talent mobility, collaboration and integration.
DPM Heng, who was guest of honour at the event, sat on the panel with DBS chief executive and SMU chairman Piyush Gupta, Indonesian investor and entrepreneur Aldi Haryopratomo, and online car marketplace Carro’s CEO Aaron Tan.
The panel discussion was moderated by SMU’s provost-designate, Professor Alan Chan. Nearly 600 people attended the event.
More than institutional arrangements, infrastructure and geolocation, the region has succeeded because of its people and the businesses, as well as a shared culture and history, Mr Gupta said.
Looking towards the future of South-east Asia, the focus should be on people and their talent.
“Our future is truly founded on what we can do about empowering our people, creating a large talent pool and continuing to create differentiation on the back of that,” Mr Gupta said.
He said the region’s strength lies in its young people, although enrolment in tertiary education is low across the region, meaning some lack the opportunity to pursue higher education and develop their ideas.
The key is building a more robust education system, from universities to post-education jobs, he said, adding that arrangements made within the region should be maximised through exchange programmes, for example.
“Building talent, building education, building people-to-people exchange, building our own applied research is a huge area of opportunity for us, and we need to focus on that,” Mr Gupta said.
Sharing a business perspective, Mr Tan said that when companies expand into different countries, it is key to understand how the local people work, as well as their culture, in order to bring out the best in them.
He also said navigating labour laws and regulations, which vary by country, can be challenging.
When asked by Mr Gupta why he chose to expand his business into South-east Asia instead of countries such as Germany and the US, Mr Tan cited familiarity with Singapore and a deeper understanding of the region.
Mr Gupta said: “Labour laws are different, manpower laws are different, but the people-to-people connectivity gives us comfort around our region, and that is what we need to try to build up.”
Mr Haryopratomo, who shared his experiences in both the healthcare and movie industries, gave the example of how collaboration across regions in movies can create stories about the region and help people learn more about South-east Asian culture.
He added that the best way to build a shared future is through shared friendships.
“I really advocate having more shared movies and shared stories, with more opportunities for programmes where we can build shared friendships because ultimately, it’s the human-to-human connection that will connect our region together.”
Responding to Mr Haryopratomo, DPM Heng said movies will help viewers appreciate the various cultural nuances in South-east Asia and showcase how diversity can be a strength.
During a question-and-answer segment, the audience asked about topics ranging from geopolitics and economic development to cultural preservation and talent management.
In response to a question on how the region can become a “proactive architect of global norms and governance”, Mr Gupta stressed the need for the region to develop its own research and leadership capabilities.
He said: “A large part of the heavy lifting of thinking still comes from the Western world.”
Universities and think-tanks in the region need to play a bigger role in developing stronger research, Mr Gupta said. “We have to lift our universities and get the education system to actually create thought leadership.”
Addressing another question about mitigating the “brain drain” or intra-region talent movement, where skilled workers move from less developed to more developed countries, DPM Heng said: “The talents will go to where they feel is the best place to develop (themselves) to grow.”
He added that Singapore has been doing much in the region in terms of hiring people, training them and helping them level up.
“Looking at the areas where we can make an impact is important,” he said. “It’s not just about money, but how that money is used, where the needs are the greatest and how we can make our contribution.”
Photo credit: SMU